Today, the Supreme Court resolved a long-disputed issue which is critical to private securities damages actions brought under catch-all antifraud provision, Exchange Act Section 10(b) and Rule 10(b)-5. In Tellabs, Inc. v. Makor, No. 06-484, the Court held that a …
Year: 2007
LIABILITY IN SECURITIES FRAUD DAMAGE ACTIONS AND THE SUPREME COURT: Part III – Congress Re-affirms Central Bank as the Circuits Struggle to Define Who Is A “Primary Violator”
The year after Central Bank of Denver N.A. v. First Interstate Bank of Denver, N.A., 511 U.S. 164 (1994) was decided, Congress essentially reaffirmed the Supreme Court’s decision the next year as part of a package of amendments to the …